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Investments (Tables)
 12 Months Ended
Dec. 31, 2013
Investments [Abstract]  
Current And Long-Term Investments, Available-For-Sale
A summary of current and long-term investments, available-for-sale, at December 31, 2013 and 2012 is as follows:
 
 
 
 
 
 
 
 
 
Non-Credit
Component of
Other-Than-
Temporary
Impairments
Recognized in
AOCI
 
Cost or
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross Unrealized Losses
 
Estimated
Fair Value
 
 
 
 
Less than
12 Months
 
12 Months
or Greater
 
 
December 31, 2013:
 
 
 
 
 
 
 
 
 
 
 
Fixed maturity securities:
 
 
 
 
 
 
 
 
 
 
 
United States Government securities
$
300.8

 
$
2.5

 
$
(3.4
)
 
$
—

 
$
299.9

 
$
—

Government sponsored securities
174.4

 
0.4

 
(1.3
)
 
—

 
173.5

 
—

States, municipalities and political subdivisions, tax-exempt
5,899.5

 
202.9

 
(90.1
)
 
(9.6
)
 
6,002.7

 
(0.6
)
Corporate securities
7,614.1

 
205.2

 
(95.2
)
 
(15.5
)
 
7,708.6

 
(0.1
)
Options embedded in convertible securities
89.2

 
—

 
—

 
—

 
89.2

 
—

Residential mortgage-backed securities
2,269.4

 
48.0

 
(41.4
)
 
(7.1
)
 
2,268.9

 
—

Commercial mortgage-backed securities
479.0

 
10.5

 
(2.6
)
 
(0.3
)
 
486.6

 
—

Other debt securities
456.2

 
5.8

 
(2.5
)
 
(0.8
)
 
458.7

 
(0.1
)
Total fixed maturity securities
17,282.6

 
475.3

 
(236.5
)
 
(33.3
)
 
17,488.1

 
$
(0.8
)
Equity securities
1,195.9

 
578.9

 
(8.0
)
 
—

 
1,766.8

 
 
Total investments, available-for-sale
$
18,478.5

 
$
1,054.2

 
$
(244.5
)
 
$
(33.3
)
 
$
19,254.9

 
 
December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
Fixed maturity securities:
 
 
 
 
 
 
 
 
 
 
 
United States Government securities
$
330.3

 
$
13.1

 
$
(0.2
)
 
$
—

 
$
343.2

 
$
—

Government sponsored securities
153.6

 
2.6

 
—

 
—

 
156.2

 
—

States, municipalities and political subdivisions, tax-exempt
5,501.3

 
388.2

 
(5.7
)
 
(1.6
)
 
5,882.2

 
—

Corporate securities
7,642.0

 
387.0

 
(17.0
)
 
(8.0
)
 
8,004.0

 
(1.7
)
Options embedded in convertible securities
67.2

 
—

 
—

 
—

 
67.2

 
—

Residential mortgage-backed securities
2,204.7

 
103.1

 
(1.1
)
 
(1.9
)
 
2,304.8

 
(0.4
)
Commercial mortgage-backed securities
323.2

 
22.5

 
—

 
—

 
345.7

 
—

Other debt securities
236.8

 
7.6

 
(0.2
)
 
(3.1
)
 
241.1

 
(1.3
)
Total fixed maturity securities
16,459.1

 
924.1

 
(24.2
)
 
(14.6
)
 
17,344.4

 
$
(3.4
)
Equity securities
897.0

 
358.0

 
(12.5
)
 
—

 
1,242.5

 
 
Total investments, available-for-sale
$
17,356.1

 
$
1,282.1

 
$
(36.7
)
 
$
(14.6
)
 
$
18,586.9

 
 
Aggregate Fair Value And Gross Unrealized Loss Of Fixed Maturity Securities And Equity Securities In An Unrealized Loss Position
The following tables summarize for fixed maturity securities and equity securities in an unrealized loss position at December 31, 2013 and 2012, the aggregate fair value and gross unrealized loss by length of time those securities have been continuously in an unrealized loss position.
 
Less than 12 Months
 
12 Months or Greater
 
Number of
Securities
 
Estimated
Fair Value
 
Gross
Unrealized
Loss
 
Number of
Securities
 
Estimated
Fair Value
 
Gross
Unrealized
Loss
(Securities are whole amounts)
 
 
 
 
 
 
 
 
 
 
 
December 31, 2013:
 
 
 
 
 
 
 
 
 
 
 
Fixed maturity securities:
 
 
 
 
 
 
 
 
 
 
 
United States Government securities
27

 
$
179.2

 
$
(3.4
)
 
—

 
$
—

 
$
—

Government sponsored securities
22

 
73.4

 
(1.3
)
 
—

 
—

 
—

States, municipalities and political subdivisions, tax-exempt
806

 
2,070.9

 
(90.1
)
 
42

 
82.4

 
(9.6
)
Corporate securities
1,448

 
2,586.6

 
(95.2
)
 
107

 
81.3

 
(15.5
)
Residential mortgage-backed securities
605

 
1,243.0

 
(41.4
)
 
80

 
116.2

 
(7.1
)
Commercial mortgage-backed securities
52

 
177.7

 
(2.6
)
 
4

 
5.6

 
(0.3
)
Other debt securities
65

 
185.3

 
(2.5
)
 
17

 
16.2

 
(0.8
)
Total fixed maturity securities
3,025

 
6,516.1

 
(236.5
)
 
250

 
301.7

 
(33.3
)
Equity securities
426

 
120.8

 
(8.0
)
 
—

 
—

 
—

Total fixed maturity and equity securities
3,451

 
$
6,636.9

 
$
(244.5
)
 
250

 
$
301.7

 
$
(33.3
)
December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
Fixed maturity securities:
 
 
 
 
 
 
 
 
 
 
 
United States Government securities
17

 
$
48.5

 
$
(0.2
)
 
—

 
$
—

 
$
—

States, municipalities and political subdivisions, tax-exempt
184

 
420.1

 
(5.7
)
 
1

 
46.9

 
(1.6
)
Corporate securities
457

 
1,066.5

 
(17.0
)
 
74

 
52.6

 
(8.0
)
Residential mortgage-backed securities
79

 
211.0

 
(1.1
)
 
44

 
25.5

 
(1.9
)
Commercial mortgage-backed securities
4

 
10.1

 
—

 
3

 
4.1

 
—

Other debt securities
7

 
5.4

 
(0.2
)
 
21

 
28.9

 
(3.1
)
Total fixed maturity securities
748

 
1,761.6

 
(24.2
)
 
143

 
158.0

 
(14.6
)
Equity securities
961

 
149.6

 
(12.5
)
 
—

 
—

 
—

Total fixed maturity and equity securities
1,709

 
$
1,911.2

 
$
(36.7
)
 
143

 
$
158.0

 
$
(14.6
)
Amortized Cost And Fair Value Of Fixed Maturity Securities, By Contractual Maturity
The amortized cost and fair value of fixed maturity securities at December 31, 2013, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations.
 
Amortized
Cost
 
Estimated
Fair Value
Due in one year or less
$
423.9

 
$
426.3

Due after one year through five years
4,580.5

 
4,712.1

Due after five years through ten years
5,105.4

 
5,196.6

Due after ten years
4,424.4

 
4,397.6

Mortgage-backed securities
2,748.4

 
2,755.5

Total available-for-sale fixed maturity securities
$
17,282.6

 
$
17,488.1
Major Categories Of Net Investment Income
The major categories of net investment income for the years ended December 31 are as follows:

2013

2012

2011
Fixed maturity securities
$
638.9


$
671.2


$
692.4

Equity securities
45.9


38.4


34.0

Cash and cash equivalents
1.0


2.5


3.7

Other
19.8


16.2


2.4

Investment income
705.6


728.3


732.5

Investment expense
(46.5
)

(42.2
)

(28.8
)
Net investment income
$
659.1


$
686.1


$
703.7
Net Realized Investment Gains/Losses And Net Change In Unrealized Appreciation/Depreciation In Investments
Net realized investment gains/losses and net change in unrealized appreciation/depreciation in investments for the years ended December 31 are as follows:
 
2013
 
2012
 
2011
Net realized gains (losses) on investments:
 
 
 
 
 
Fixed maturity securities:
 
 
 
 
 
Gross realized gains from sales
$
225.9

 
$
401.0

 
$
289.2

Gross realized losses from sales
(125.7
)
 
(54.8
)
 
(65.1
)
Net realized gains from sales of fixed maturity securities
100.2

 
346.2

 
224.1

Equity securities:
 
 
 
 
 
Gross realized gains from sales
224.1

 
82.0

 
75.4

Gross realized losses from sales
(100.5
)
 
(93.8
)
 
(68.0
)
Net realized gains (losses) from sales of equity securities
123.6

 
(11.8
)
 
7.4

Other realized gains on investments
48.1

 
0.5

 
3.6

Net realized gains on investments
271.9

 
334.9

 
235.1

 
 
 
 
 
 
Other-than-temporary impairment losses recognized in income:
 
 
 
 
 
Fixed maturity securities
(42.5
)
 
(11.8
)
 
(24.2
)
Equity securities
(13.9
)
 
(17.5
)
 
(27.9
)
Other invested assets, long-term
(42.5
)
 
(8.5
)
 
(41.2
)
Other-than-temporary impairment losses recognized in income
(98.9
)
 
(37.8
)
 
(93.3
)
 
 
 
 
 
 
Change in net unrealized (losses) gains on investments:
 
 
 
 
 
Fixed maturity securities
(679.8
)
 
199.8

 
155.9

Equity securities
225.4

 
94.7

 
(124.6
)
Total change in net unrealized (losses) gains on investments
(454.4
)
 
294.5

 
31.3

Deferred income tax benefit (expense)
159.7

 
(104.6
)
 
(10.7
)
Net change in net unrealized (losses) gains on investments
(294.7
)
 
189.9

 
20.6

 
 
 
 
 
 
Net realized gains on investments, other-than-temporary impairment losses recognized in income and net change in net unrealized (losses) gains on investments
$
(121.7
)
 
$
487.0

 
$
162.4
Proceeds and Realized Gains and Losses from Investments
Proceeds from fixed maturity securities, equity securities and other invested assets and the related gross realized gains and gross realized losses for the years ended December 31 are as follows:
 
2013
 
2012
 
2011
Proceeds
$
13,662.8

 
$
15,915.6

 
$
12,654.3

Gross realized gains
498.1

 
483.5

 
368.2

Gross realized losses
(226.2
)
 
(148.6
)
 
(133.1
)